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Lincoln Financial Group UK
EOG Resources, Inc.
Juniper Networks, Inc.
China Telecom (Hong Kong) Ltd.
Vivendi S.A.
Sumitomo Bank, Limited
The Allstate Corporation


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Vivendi S.A.

Guillaume Hannezo, Deputy Chief Operating Officer:

"Sometimes our financial needs can be met by commodity-type services that are driven by price. Then there are strategic decisions such as wanting to position Vivendi as a world leader in the water industry. Goldman Sachs provided us with the two essential factors that enabled us to accomplish this. One consisted of excellent, very timely knowledge of the utilities industry worldwide that permitted us to identify and assess acquisition candidates, including United States Filter Corporation. The second consisted of a local team of quality investment bankers who do not merely sell transactions but are oriented toward forming a close, trusting and long-term relationship with their client. Long before we appointed Goldman Sachs as our advisor, the firm had invested considerable time to learn about our company and strategy and the challenges we faced. The trust and confidence that we had built enabled us to structure successfully a large, complex international acquisition and then finance it quickly through a convertible and an equity offering totaling $6 billion. Despite their significant size, these offerings attracted tremendous interest and allowed us to complete our strategy in the most efficient way in terms of both price and timing."

  • Goldman Sachs advised Vivendi on the acquisition of United States Filter Corporation for approximately $6 billion.
  • The acquisition financing included a $3.1 billion convertible bond offering and a $2.9 billion equity offering.
  • The convertible bond offering was the largest ever globally and provided unique exchange features that helped to generate high investor demand.
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